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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Saturday, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the au ...
Thursday, 20 January 11
INDONESIA MAY BAN LOW-QUALITY COAL EXPORTS FROM 2014 - BLOOMBERG
Bloomberg reported that, The Indonesian government plans to ban exports of coal with an energy value of less than 5,600 kilocalories a kilogram star ...
Thursday, 20 January 11
SUPRAS ARE DOING USD 7- 8K FOR INDONESIA-INDIA - FEARNBULK
Handy
Negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Con ...
Thursday, 20 January 11
ITMG TARGETS TO PRODUCE 25 MILLION TONS OF COAL THIS YEAR - BISNIS INDONESIA
Bisnis Indonesia reported that, Coal producer PT Indo Tambangraya Megah Tbk (ITMG) targets to produce 25 million tons of coal this year, a 13. ...
Thursday, 20 January 11
DRY BULK MARKETS FALL SEES NO END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index ( ...
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- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
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